Investment part of gearing up for global growth, company says
Construction equipment heavyweight JCB has announced a $25 million investment in its Brazilian operations as the company gears up for global growth.
The investment was confirmed as JCB hosted the governor of Brazil’s Sao Paulo state, Joao Doria, at the company’s global headquarters in Staffordshire in the UK. During his visit to JCB Doria met JCB chairman Lord Bamford and CEO Graeme Macdonald.
A statement from the British brand said that Sorocaba in Sao Paulo has been home to JCB’s Brazilian production operations since 2001. In 2012 the company invested $100 million in a new factory in the city, which was opened by then British prime minister David Cameron. The latest $25m investment will see the launch of new products for Brazil and neighbouring markets.
Graeme Macdonald said: “We have a world-class production facility in Brazil and the investment announced today underlines our commitment to this important market and enables us to seize all the opportunities for growth which lie ahead of us. The Brazilian market is in very good shape and has grown substantially over the past 18 months and continues to expand. There are some very exciting opportunities ahead.”